Leading position and high brand recognition in Japan's retail market A variety of restructuring initiatives in its core general merchandising store (GMS) and supermarket businesses, but a likelihood that a full-fledged recovery in the businesses' profitability will take time. Steady performance of health and wellness, shopping center development, and services businesses, which somewhat diversify earnings Drastic measures to revive unprofitable businesses Low profitability compared with global peers, arising from low profitability in the GMS business Slightly weak key financial ratios such as debt to EBITDA for the rating, because of a plan to maintain heavy investments Upward pressure on use of debt in tandem with expansion of its shopping center development business High financial flexibility, with good access to various
